国际支付与结算答案

I.1. settlement on bank credit2. the potential for currency fluctuation3. to clear the goods for export4. to pay the insurance premium5. to carry out export formalities6. the major participants in international trade7. the commodity inspection clause 8. to fulfill the obligation to deliver the goods9. The goods have passed over the ship’s rail10.International contract is concluded in a completely different context than domesticonesII.1.local legal system, political, exchange risks2.payment in advance, open account, remittance and collection3.letter of credit, bank guarantee4.price terms, delivery terms5.minimum, maximum6.Advance payment7.Open account8.clean collection, documentary collectionIII.1.International trade is the exchange of goods and services produced in one countryfor goods and services produced in another country.2. A set of terms making clear to both the seller and the buyer their respectiveobligations in international trade.3.An arrangement between the buyer and seller whereby the goods aremanufactured and delivered before payment is required.4.An arrangement whereby the buyer places the funds at the disposal of the sellerprior to shipment of the goods or provision of services.5.The sales contract is a written agreement that clearly states the rights andresponsibilities of both parties to a transaction.IV.1. F2. F3. T4. T5. T6. T7. F8. T9. T 10. FV.1. B2. C3. C4. B5. D6. D7. A8. C9. C 10. C11. B 12 D 13. D 14. C 15. D16. D 17. C 18. A 19. C 20. DI.1.barter2.medium of exchange3.expensive, risky4.our5.V ostro6.vostro7.nostro8.specimen of authorized signatures,telegraphic test keys, terms and conditions,Swift authentic keysII.1. A bank having direct connection or friendly service relations with another bank.2.International settlements are financial activities conducted among differentcountries in which payments are effected or funds are transferred from one country to another in order to settle accounts, debts, claims, etc. emerged in the course of political, economic or cultural contracts among them.3.Visible Trade is the importing / exporting of commodities and goods between thebuyers and the sellers.4.Financial transaction refers to all kinds of foreign exchange market transactions,government supported export credits, syndicated loans, international bond issues, etc.5.V ostro account is an account held by a bank on behalf of a correspondent bank.III.mercial credit2.control documents3.account relationship4.cash settlement5.financial intermediaryIV.1. T2. F3. F4. T5. FV.1. B2. C3. D4. A5. D6. B7. B8. D9. A 10. BChapter ThreeI.1. generally crossed check2. specially crossed check3. a check that is out of date4. post dated check5. amount in words6. blank endorsement7. special endorsement 8. restrictive endorsement9. documentary bill 10. sight draft11. usance/term bill 12. acceptance bill13. determinable future date 14. clean bill15. negotiable instrument 16. discounting house17. merchant bank 18. unconditional promise of payment19. joint and severally responsible 20. payable 90 days after dateII.1. A negotiable instrument is a chose in action, the full and legal title to which istransferable by del ivery of the instrument (possibly with the transferor’s endorsement) with the result that complete ownership of the instrument and all the property it represents passes free from equities to the transferee, providing the latter takes the instrument in good faith and for value.2. A bill of exchange is an unconditional order in writing, addressed by one person toanother, signed by the person giving it, requiring the person to whom it is addressed to pay on demand, or at a fixed or determinable future time, a sum certain in money, to or to the order of a specified person, or to bearer.3. A check is an unconditional order in writing addressed by the customer to a banksigned by that customer authorizing the bank to pay on demand a specified sum of money to or to the order of a named person or to bearer.4.It is a bill with shipping documents attached thereto.5. A crossing is in effect an instruction to the paying bank from the drawer or holderto pay the fund to a bank only.III.1. T2. F3. T4. T5. T6. F7. T8. T9. T 10. T11. T 12. T 13. T 14. F 15. T16. T 17. T 18. F 19. F 20. FIV.1. C2. A3. C4. B5. C6. B7. A8. C9. B 10. B11. B 12. D 13. C 14. C 15. C16. B 17. B 18. A 19. A 20. C V.1.China National Crafts Import & Export Corp.2.ABC Company3.the Bank of China4.Tenor draft5.In two sets6.ShanghaiVII.Chapter FourI.1. beneficiary2. payment order, mail advice or debit advice3. the remittance amount is large,the transfer of funds is subject to a time limittest key4. sell it to his own bank crediting his account5. debitscredits6.demand draft7. act of dishonor8. Swiftness, reliability, safety, inexpensiveness9. debiting remitting bank’s nostro account10. delivery of the goodsII.1. I nternational remittance means a client (payer) asks his bank to send a sum of money to a beneficiary abroad by one of the transfer methods at his option while the beneficiary can be paid at the designated bank which is either the remitting bank’s overseas branch or its correspondent with a nostro account.2. Remitting bank is the bank transferring funds at the request of a remitter to its correspondent or its branch in another country and instructing the latter to pay a certain amount of money to a beneficiary.3. A mail transfer is to transfer funds by means of a payment order or a mail advice, or sometimes a debit advice issued by a remitting bank, at the request of the remitter.4. A banker’s demand draft is a negotiable instrument drawn by a bank on its overseas branch or its correspondent abroad ordering the latter to pay on demand the stated amount to the holder of the draft.5. Cancellation of the reimbursement under mail transfer or telegraphic transfer is usually done before its payment is made at the request of the remitter or the payee who refuses to receive the payment.III.1.remittance advice2.outward remittance3.international money order4.current account5.automated payment system6.in cover7.letter of indemnity8.mail advice9.non-negotiable copy of draft10. down paymentIV.1B 2C 3A 4B 5D6 D7 B8 C9 B 10 D Chapter FiveI.1. presenting bank2.title documents, pays the draft, accepts the obligation to do so.3.legal, the exchange control authorities4. the payment is made5. open account, advance payment,5.inward collection7. the remitting bank8. trust receipt9. D/P at sight10.documents, draft, and collection orderII.1. Collection is an arrangement whereby the goods are shipped and a relevant bill of exchange is drawn by the seller on the buyer, and/or shipping documents are forwarded to the seller’s bank with clear instructions for collection through one of its correspondent banks located in the domicile of the buyer.2. The case of need is the representative appointed by the principal to act as case of need in the event of non-acceptance and/or non-payment, whose power should be clearly and fully stated in the collection.3. Documentary collection is a collection of financial instruments being accompanied by commercial documents or collection of commercial documents without being accompanied by financial instruments, that is, commercial documents without a bill of exchange. Alternatively, the documentary collection is a payment mechanism that allows the exporters to retain ownership of the goods until they receive payment or are reasonably certain that they will receive it.4. Outward collection is a banking business in which a bank acting as the remitting bank sends the draft drawn against an export with or without shipping documents attached, to an appropriate overseas bank, namely, the collecting bank to get the payment or acceptance from the importer.5. Collection bill purchased is a kind of financing by banks for exporters under documentary collection methods. It means that the remitting bank purchases the documentary bill drawn by the exporter on the importer. It involves great risk for the remitting bank due to lack of a guarantee.III.1.cash against documents2. trade acceptance3. case of need4. bill purchased5. title document6. on consignment7.direct collection 8. shipping documents9. documents against payment 10. time/ tenor/term/ usance draftIV.1A 2B 3C 4A 5B 6 A 7 C 8A 9 A 10 D Chapter SixI.1.The Documentary Credit or letter of credit is an undertaking issued by a bank forthe account of the buyer (the applicant) or for its own account, to pay the beneficiary the value of the draft and/or documents provided that the terms and conditions of the documentary credit are complied with.2. A credit that carries the commitment to pay by both the issuing bank and theadvising bank.3. A credit by which, under the terms and conditions thereof, the amount is renewedor reinstated without specific amendments to the documentary credit being required.4.A bank, usually the advising bank, which adds its undertaking to those of theissuing bank and assumes liability under the credit.5.The applicant is always an importer or a buyer, who fills out and signs anapplication form, requesting the bank to issue a credit in favor of an exporter or a seller abroad.II.1. F2. T3. T4. F5. T6. F7. F8. T9. T 10. F 11. T 12. T 13. F 14. F 15. T III.1.silent confirmation2.to expire at the counters of the issuing bank3.to pay against documents presenting the goods4. A credit places a bank’s credit instead of commercial credit.5. A credit stands independent of the sales contract.IV.1. B2. C3. D4. B5. A6. D7. D8. C9. C 10. C 11. D 12. D 13. A 14. D 15. B16. D 17. D 18. D 19. A 20. B Chapter SevenI.pleteness, correctness, consistency2.underlying transaction3.authorized signatures, test keyply with, be consistent5.ISO currency codeII.1.apparent authenticity of the credit2.international standard banking practice3.data communication network4.to have sufficient funds to cover the credit5.It is equally important that the buyer’s own requirements be taken into account. III.1. F2. F3. F4. T5. T6. T7. F8. T9. F 10. TIV.1. B2. D3. C4. B5. C6. C7. A8. A9. D 10. D 11. A 12. D 13. D 14. A 15. B Chapter EightI.1.The commercial invoice is the key accounting document describing thecommercial transaction between the buyer and the seller. It is a document giving details of goods, service, price, quantity, settlement terms and shipment.2.An export license is a document prepared by a government authority of a nationgranting the right to export a specific quantity of a commodity to a specified country.3. A bill of lading is a document issued by a carrier to a shipper, signed by thecaptain, agent, or owner of a vessel, providing written evidence regarding receipt of the goods, the conditions on which transportation is made, and the engagement to deliver goods at the prescribed port of destination to the lawful holder of the bill of lading.4. A document issued by an authority indicating that goods have been inspected priorto shipment and the results of the inspection.5. A consular invoice is an invoice covering a shipment of goods certified in thecountry of export by a local consul of the country for which the merchandise is destined.II.1.strategic commodity2.General System of Preference3.with reserved berth4.multi-modal transport bill of lading5.sampling methodologyIII.1. F2. F3. T4. T5. F6. F7. F8. T9. T 10. FIV.1. A2. B3. D4. A5. C6. C7. C8. C9. C 10. D 11. A 12. D 13. D 14. A 15. A 16. A 17. B 18. A 19. C 20. D Chapter NineI.1.acceptable accounts receivablenon-recourse and notification2. collection as well as the risk of credit losses3. the level of sales4. changes in the world economic structure5. growing demands6. purchasing the client’s accounts receivables7.financial and administration8.the invoice datethe customer makes his payment.9.market conditions and his assessment of the risks involved in a particulartransaction.10. fluctuations in the exchange ratein the status of the debtorII.1. Factoring is a form of trade financing that allows sellers to sell their products to overseas buyers essentially on an open account basis. In simple terms, factoring is the purchase of claims, arising from sales of goods, by a specialized company known as factoring company or factor. Factoring is in fact a three-party transaction between the factor and a business entity, i.e. the exporter selling goods or providing services to foreign the importer.2. Forfaiting is the term generally used to denote the purchase of obligations falling due at some future date, arising from deliveries of goods and services----mostly export transactions---without recourse to any previous holder of the obligation. Simply speaking, forfaiting is the business of discounting medium-term promissory notes or drafts related to an international trade transaction.III.1. contingent liability2. credit limit3. supplier credit4. without recourse5. credit approval6. capital goods7. buyer credit guarantee 8. forfait facility9. trade barrier 10. bulk purchase discountIV.1. B2. A3. D4. C5. D Chapter TenI.1.secure mechanism for paymentdefault instrument2.party tenderingthe contract has been awarded3. presentation of the beneficiary's demand and stipulated documentation4. issue a guarantee directly to the beneficiary5. Unconditional bonds6. withdraw its bidaccept the award of contract in its favorbetween 2% and 5%7.UCP for documentary creditsUniform Rules for Demand Guarantee.8.An advance payment9.borrower (the principal)the lender (the beneficiary)10. counter indemnityII.1. A bank guarantee is an instrument for securing performance or payment especially in international business. It is a written promise issued by a bank at the request of its customer, undertaking to make payment to the beneficiary within the limits of a stated sum of money in the event of default by the principal. It may also be defined as an independent obligation where the guarantor has to make a special agreement with its customer, ensuring that it will be refunded by him for any payment to be effected under the contract of guarantee.2. A beneficiary is the party in whose favor the guarantee is issued. He is secured against the risk of the principal’s not fulfilling his obligations towards the beneficiary in respect of the underlying transaction for which the demand guarantee is given. He will not obtain a sum of money if the obligations are not fulfilled.3. An indirect guarantee is a guarantee where a second bank, usually a foreign bank located in the beneficiary's country of domicile, will be requested by the initiating bank to issue a guarantee in return for the latter's counter-guarantee.4. A performance bond is an undertaking given by the guarantor at the request of a supplier of goods or services or a contractor to a buyer or beneficiary, whereby the guarantor undertakes to make payment to the beneficiary within the limit of a stated sum of money in the event of default by the supplier or the contractor in due performance of the terms of a contract between the principal and the beneficiary.5. A standby letter of credit is a clean letter of credit that generally guarantees the payment to be made for an unfulfilled obligation on the part of the applicant. It is payable on presentation of a draft together with a signed statement or certificate by the beneficiary that the applicant has failed to fulfill his obligation.III.1.performance bond2. letter of guarantee3.counter indemnity4. accessory guarantee5.stand-by letter of credit6. engineering contracting7.underlying transaction 8. demand guarantee9.deferred payment bond 10. counter guaranteeIV.1. B2.A3. A4. D5. C6 B7 C8 D9 B 10 AChapter ElevenI.1.collection operations for drafts and for documentary collections2.all collections, “collection instruction”3.all Documentary Credits, Credit4.all Bank-to-Bank Reimbursements, Reimbursement Authorization.5.any demand guarantee and amendment thereto, Guarantee or any amendmentthereto.6.documents, goods, terms and conditions7.codification of rulesbanking practice regarding documentary credits8. international finance, trade, transportation and computer technology9.quite different from the practice of guarantee, banking and commercial10. bank-to-bank reimbursementsII.1.reimbursement claim2. arbitral award3. banking commission4. multi-transport5. reimbursement undertaking6. banking practices7. containerized traffic 8. non-negotiable waybill9. tenor collection presentation 10. International Chamber of CommerceⅢ.Ⅳ.1. B2. D3. C4. A5. DChapter TwelveI.1.payment information, transfer value2.confirmation number, confirmation help and notification3.for procedures and message formats, computer readablermation, value, net amount5．high speed and accuracy6. access to the system for the settlement of international money transfers7. faster, more reliable communication, lower transmission costs8. the international clearing house9. standardized formats10. inter-bank dollar-denominated, CHIPSII.1. cash positions2. bookkeeping entry3. financial intermediary4. customer transfers5. account reconciliation6. Fed Wire7. non-settlement bank 8. fund transfer system9. secondary payment system 10. reserve balance account11. automated clearing house 12. financial institution transfers 13. non-profit cooperative society 14. foreign exchange deal and loan 15. Clearing House Inter-bank Payments SystemIII.1. A payment system is the means whereby cash value is transferred between a payer’s bank account and a payee’s bank account.2. SWIFT (Society for Worldwide Inter-bank Financial Telecommunication) is a computerized international telecommunications system which, through standardized formatted messages, rapidly processes and transmits financial transactions and information among its members around the world.3. CHIPS (Clearing House Inter-bank Payment System) is a pseudo-wire system in New York City that handles an enormous volume of cash flow between local financial institutions. CHIPS is a settlement system involving primarily about 135 New York City financial institutions and is operated by the New York Clearing House Association.4. Clearing House Automated Payments System (CHAPS) is a system of sending and clearing payments on a same-day basis that is available nationwide in Britain and is operated by a number of settlement banks that communicate directly through computers.5. Fed Wire is a fund-transfer system operated nationwide in the USA by the Federal Reserve System (the Fed, Central Bank of the USA) that handles transfer from one financial institution to another with an account balance held with the Fed.IV.1. B2. A3. D4. B5. CV.1. T2. T3. F4. T5. FChapter ThirteenI.1.purchaser or the holderreplaced2.clerk or the tellera small commission3.the initial signaturethe countersignature4.banking instrumentsretailing5. (assigned) merchant6. annual income and the credit standing7. issuance, application and clearing8.consumer’s creditcurrent account9. separate listing of their cheque numbers10. paying the bill in fulldrawing revolving creditII.1. initial signature2. entrance fee3. selling agent4. assigned merchant5. traveler’s cheque6. purchase receipt7. current account 8. sales slip9. paying agent 10. membership dues11. consumer’s credit12. authorized signature13. American Express Card 14. non-trade settlement15. retailing banking businessIII.1. A traveler’s cheque is a specially printed form of cheque issued by a financial institution, leading hotels, and other agencies in preprinted denominations for a fixed amount to a cu stomer for use when he is going to travel abroad. A traveler’s cheque is actually a draft of a bank or other agency, which is self-identifying and may be cashed at banks, hotels, etc., either throughout the world or in particular areas only.2. A paying agent is one that undertakes by arrangement with the issuer to pay the latter’s traveler’s cheques when presented by the holder.3. Credit cards are instruments issued by banks to carefully selected customers with a line of credit ranging from several hundred to several thousand dollars based on the latter’s financial status for use in obtaining, on credit, consumer goods, services and other things when necessary.4. A cardholder is the customer who has a current account with the card-issuing bank and whose credit is good, and who based on his financial status can obtain, on credit, consumer goods, services and other things when necessary.5. A merchant is a store, hotel or restaurant that are bound to have a pre-arrangement with the card-issuing bank and are willing to accept the credit card for payment of commodities sold or services renderedIV.1. B2. D3. A4. C5. BV.1. T2.F3. T4. T5. FChapter FourteenI.1. medium of high-speed digital transactions2. business-to-business commerce, its breadth of coverage and ease of use3.Putting up a Web site, luring online shoppers in4. “e-cash”, “cyber-money”5. stored-value products and access products (such as a bank ATM card)6. transfer of financial value7. advertising purposes8. phone orders and credit card orders9. digital signatures10. debit card account.II.1. cyber-payment2. e-cash3. line of credit4. digital currency5. electronic wallet6. automated teller machine7.globalization of commerce8. personal identification number9. microchip-embedded smart card 10. Secured Electronic Transactions Standards 11. electronic commerce 12. encoded magnetic stripe13. access device 14.debit card15.virtual fingerprintIII.1. Electronic commerce is the ability to purchase goods and services electronically over the Internet from around the world at any time of day or night.2. Cyber-payment means the methods that have been implemented to transfer money, new methods of financial transactions as today banks already can transfer money with computers.3. SET is a single technical standard for safeguarding credit (and in the near future debit) card purchases made over the open networks of the Internet. It is an international protocol that details how credit card (and debit card) transactions on the Internet will be secured using encryption technology and digital certification.4. A digital signature is a way to encrypt a message so that the recipient can decode it and be certain of the authenticity of the transaction.5. Smart cards are micro- processor-equipped cards that work with card readers installed in the computers of consumers.IV.1. A2. B3. C4. D5. D6.C7. B8. A9. D 10. BV.1. F2.T3. T4. F5. T6. T7.T8. F9. F 10. F。